Fenergo Client Lifecycle Management provides a truly streamlined, digital client orchestration solution to enable the delivery of a quick and efficient client onboarding process for both new and existing clients.

Fenergo CLM for SalesforceⓇ puts Relationship Managers in the driving seat of the client onboarding journey, providing them with insight into and oversight over the entire end-to-end client onboarding process.

Client Onboarding: Maximising Revenue Opportunities

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Client Onboarding: Maximising Revenue Opportunities

September 2012

Marc MurphyCEO

Low levels of process automation across client on-boarding and account opening in the Investment and Corporate banking space provides on-going challenges for banks and financial institutions in terms of revenue growth, client service and compliance management. So why has this space remained neglected for so long?

Low levels of process automation across client on-boarding and account opening in the Investment and Corporate banking space provides on-going challenges for banks and financial institutions in terms of revenue growth, client service and compliance management. So why has this space remained neglected for so long?

Well, in fairness it’s not so much negligence, but rather a lack of strategic holistic approach. The onboarding discipline spans multiple business lines and various operational divisions, each with separate divisional responsibility and ownership. In general, process improvement and system investment tends to be focused on these operational divisions rather than across the end to end process. As each division campaigns for its share of annual budgets, a patchwork of disparate CRM extensions, BPM and other tools emerge, but the fundamental issues remain – lengthy onboarding times for corporate clients, inadequate process visibility and metrics, high operational and compliance costs.

Recently, we have seen moves in the market to address the onboarding issue. A number of leading institutions have initiated strategic projects which target revenue growth and relationship expansion, in addition to operational and client service improvements. Common to all are cross-divisional process owners and working groups who drive forward an end to end strategic vision. Of course, such visions cannot be realized overnight, but with clear direction, staged investment toward medium-term process improvement is possible.

Looking forward, evolving compliance demands and new competitive benchmarks inevitably raises the question “How long can banks and FIs afford to maintain a patchwork of disparate systems and tools across their core revenue generating processes?” The time for strategic investment is “NOW”.